Chile

J.P. Morgan is a leading provider of financial services in Chile. The firm is dedicated to assisting clients locally, as well as helping them expand beyond Chilean borders. The firm has been active in the local business community for more than 25 years, working in various capacities for both state and private companies. J.P. Morgan’s financial services in Chile include investment banking, asset management, private equity, custody and transaction services, risk management, mergers and acquisitions, debt and equity underwriting, and corporate banking.

The firm traces its roots here back to 1867, when J.S. Morgan & Co., a predecessor firm, sponsored its first major international loan. The loan — to the Government of Chile — marked the beginning of the firm’s long-standing investment in Latin America.

In October 1868, J.S. Morgan & Co. began negotiations leading to its next Chilean loan, which closed in 1870. The loan was to pay the cost of completing the construction of the 117-mile railroad connecting the southern city of Chillán with Talcahuano.

The year 1959 represents a milestone in J.P. Morgan’s relation with Chile. J.P. Morgan & Co. merged with the Guaranty Trust Company of New York. Years before the merger, the Guaranty Trust Company participated in the 1928 issuance of Chilean gold bonds. Chile was therefore an important client of both the Morgan and Guaranty companies, the two firms that came together to create the Morgan firm.

In April 1999, J.P. Morgan led Chile’s US$500 million debut Yankee bond, followed by the US$650 million Yankee bond in 2001 and Chile’s – then the largest ever – US$1,000 million bond in 2003, and the US$600 million bond in 2004. July 2010 marked a new milestone in J.P. Morgan’s advisory capacity to Chile, with the placement of the US$1.52 billion, 10-year dual-tranche Chilean peso and USD global bond, the first ever global Chilean peso bond from a Chilean issuer in the international bond market.

In 2013, J.P. Morgan was the global coordinator of the largest equity offering in Chilean history and the largest utilities offering in Latin America ever, a capital increase of US$6 billion.